Oil found underground in Texas is an example of:
a. labor.
b. land or a natural resource.
c. an entrepreneur.
d. human capital.
e. capital resource.
b
You might also like to view...
An efficiency wage premium serves the same function as a bond because, just as with a bond, the premium represents
A) the amount the employee loses if caught shirking. B) the expected value of the amount the employee loses if he shirks. C) the cost of monitoring the employee. D) the gain to the employee if he shirks.
An increase in demand and a decrease in supply, will lead to a(n) ________ in equilibrium quantity and a(n) ________ in equilibrium price.
A) decrease; decrease B) indeterminate change; increase C) indeterminate change; decrease D) increase; indeterminate change
The table above gives the total revenue and total cost for a perfectly competitive firm producing chocolate chip cookies. If the firm is producing 4 pounds of cookies, to maximize its profit it will
A) increase its output. B) decrease its output. C) continue producing 4 pounds of cookies. D) shut down.
How does the decreasing use of DVD players affect the market for prerecorded DVDs?
A) The demand curve for prerecorded DVDs shifts to the left. B) The quantity of prerecorded DVDs demanded decreases. C) The quantity of prerecorded DVDs demanded increases. D) The demand curve for prerecorded DVDs shifts to the right.